| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Tonga Economy 2017
https://theodora.com/world_fact_book_2017/tonga/tonga_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Tonga Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Tonga has a small, open, island economy and is the last constitutional monarchy among the Pacific Island countries. It has a narrow export base in agricultural goods. Squash, vanilla beans, and yams are the main crops. Agricultural exports, including fish, make up two-thirds of total exports. Tourism is the second-largest source of hard currency earnings following remittances. Tonga had 45,000 visitors in 2013. The country must import a high proportion of its food, mainly from New Zealand.The country remains dependent on external aid and remittances from overseas Tongans to offset its trade deficit. The government is emphasizing the development of the private sector, encouraging investment, and is committing increased funds for healthcare and education. Tonga's English-speaking and educated workforce offer a viable labor market, and the tropical climate provides fertile soil. Renewable energy and deep sea mining also offer opportunities for investment.Tonga has a reasonably sound basic infrastructure and well developed social services. The government faces high unemployment among the young, moderate inflation, pressures for democratic reform, and rising civil service expenditures.

GDP (purchasing power parity):
$557 million (2016 est.) $542.2 million (2015 est.) $524.3 million (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 213
[see also: GDP country ranks ]

GDP (official exchange rate):
$430 million (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.7% (2016 est.) 3.4% (2015 est.) 2.9% (2014 est.)
country comparison to the world: 108
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$5,300 (2016 est.) $5,200 (2015 est.) $5,000 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 168
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 78.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 41.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 19%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -60.2% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 19.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 20.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 60.1% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, sweet potatoes, cassava, taro and kava

Industries:
tourism, construction, fishing

Industrial production growth rate:
6% (2016 est.)
country comparison to the world: 29
[see also: Industrial production growth rate country ranks ]

Labor force:
33,800 (2011 est.)
country comparison to the world: 201
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 27.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 27.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 2,006% (2006 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
1.1% (2011 est.) 1.1% (2006)
country comparison to the world: 6
[see also: Unemployment rate country ranks ]

Population below poverty line:
24% (FY03/04 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $132.7 million
[see also: Budget revenues country ranks ]
expenditures: $132.7 million (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
30.9% of GDP (2016 est.)
country comparison to the world: 73
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0% of GDP (2016 est.)
country comparison to the world: 30
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
45.1% of GDP (2013) 46.5% of GDP (2012)
country comparison to the world: 102
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
1.2% (2016 est.) -1% (2015 est.)
country comparison to the world: 76
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
8% (31 December 2016 est.) 8.09% (31 December 2015 est.)
country comparison to the world: 108
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$115.6 million (31 December 2016 est.) $101.8 million (31 December 2015 est.)
country comparison to the world: 187
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$218.3 million (31 December 2016 est.) $203.9 million (31 December 2015 est.)
country comparison to the world: 190
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$148.4 million (31 December 2016 est.) $128.4 million (31 December 2015 est.)
country comparison to the world: 182
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$33 million (2016 est.) -$34 million (2015 est.)
country comparison to the world: 61
[see also: Current account balance country ranks ]

Exports:
$35 million (2016 est.) $30.6 million (2015 est.)
country comparison to the world: 207
[see also: Exports country ranks ]

Exports - commodities:
squash, fish, vanilla beans, root crops

Exports - partners:
Japan 16%, US 15.4%, Fiji 12.8%, NZ 12.5%, South Korea 11%, Samoa 10.7%, Australia 7.5%, American Samoa 6.8% (2015)

Imports:
$288.2 million (2016 est.) $263 million (2015 est.)
country comparison to the world: 202
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and transport equipment, fuels, chemicals

Imports - partners:
Fiji 37.7%, NZ 21.2%, China 14.2%, US 6.4%, Australia 4.5% (2015)

Reserves of foreign exchange and gold:
$180.7 million (31 December 2016 est.) $156.1 million (31 December 2015 est.)
country comparison to the world: 160
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$233.1 million (31 December 2016 est.) $206.2 million (31 December 2015 est.)
country comparison to the world: 188
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$117.2 million (31 December 2016 est.) $110.2 million (31 December 2015 est.)
country comparison to the world: 120
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
pa'anga (TOP) per US dollar - 2.26 (2016 est.) 2.106 (2015 est.) 2.106 (2014 est.) 1.847 (2013 est.) 1.72 (2012 est.)


NOTE: The information regarding Tonga on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 2017 information contained here. All suggestions for corrections of any errors about Tonga Economy 2017 should be addressed to the CIA.




- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

https://theodora.com/wfbcurrent/tonga/tonga_economy.html

This page was last modified 22-Feb-17
Copyright © 1995- , ITA all rights reserved.

    . Feedback